HSBC 02 (0005) (Jun 10 - Dec 24)

[winston]

not vested

Citi: HSBC HOLDINGS (00005.HK) 2Q Results Good; Buyback Guidance Encouraging; Outlook Positive

Citi Research noted in a report that HSBC HOLDINGS (00005.HK) (HSBA.L) has reported an underlying profit before tax of US$9 billion for 2Q23, beating market consensus by 12%, while revenues beat estimates by 6%, and costs and impairment charges were in line with expectations.

The reported profit before tax in the period was US$8.8 billion, 10% above market expectations.

The Common Equity Tier 1 ("CET1") ratio was flat QoQ at 14.7%, while dividends and additional buybacks were in line with expectations.

HSBC is now guiding for a return on tangible equity of around 15% over the next two years, with net interest income rising to over US$35 billion this year.

Citi found HSBC's 2Q23 results positive, with encouraging buyback guidance and an optimistic outlook. The broker rated HSBC's UK shares Buy and has put it on positive catalyst watch.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

HSBC To Buy back Max. US$2B Shrs from Tmr to 26 Oct

HSBC HOLDINGS (00005.HK) announced that it will further commence a share buy-back for up to a maximum consideration of US$2 billion.

Ordinary Shares purchased under the buy-back will be cancelled.

HSBC entered into irrevocable, non-discretionary buy-back agreements with Merrill Lynch to enable the purchase of Ordinary Shares by Merrill Lynch, acting as principal, during the period running from 3 August 2023 and ending no later than 26 October 2023, for an aggregate purchase price of up to US$2 billion and the simultaneous on-sale of such Ordinary Shares by Merrill Lynch to HSBC.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

HSBC faces US$15b BoCom write-down

HSBC (0005) faces a potential US$15 billion (HK$117 billion) write-down for the overvaluation of Bank of Communications (3328) and is in a quandary over whether to offload its stake in the fifth-largest Chinese bank.

HSBC has retained its approximately 19 percent stake in BoCom since 2004.

Source: The Standard

https://www.thestandard.com.hk/section- ... write-down